When you finish second but are given first prize anyway. Inspired by Donald Trump receiving 2.1% fewer votes than Hillary Clinton but being given the presidency as a participation trophy.
Christopher Columbus is often accredited as the first European to step foot in the Americas. However, this is just a Par-Trump-cipation Trophy as the Viking, Leif Erikson, established a settlement at L’Anse aux Meadows in Newfoundland some 500 years before Columbusleft Europe
That one extremely attractive friend of the opposite gender that you like to hang out with. A relationship would never work between you two but you like to keep them around to show off to your other friends.
Robin: Damn, did you see all those hot girls that Eli was with?
Bryan: Yeah, he's not getting any though. They're just trophy friends.
While our lifespan is the number of years we will live, our healthspan is the number of healthy years we will have and our sexspan is is the number of years we will continue to be healthy enough to continue having an active sex life.
A lighthearted reaction upon receiving disappointing news of some sort. Usually something that isn't a particularly a big deal, esp. when it primarily affects someone else - sort of a mild schadenfreude. Sometimes doubled or tripled, and possibly said in a sing-songy voice for added comedic effect to imitate a muted trumpet, which is how the meme originated.